Increasing awareness about importance of Information Security and developing local product capabilities driving growth in Vietnam’s Cybersecurity Market: Ken Research

The Vietnam government has mandated government organizations and departments to allocate 10% of their IT project budgetary spend on cybersecurity solutions, and the spending needs to be made on sourcing solutions from local companies.

Vietnam’s historic Cybersecurity Law came into force in the country. The Law mandates setting up of local offices and data centres for global IT companies such as Facebook, Google and Twitter. The controversial law also puts a clampdown on derogatory and non-state friendly content posted on social media networks.

An alliance of local companies developing Made in Vietnam cybersecurity solutions has been created by the government to facilitate mutual collaboration and contribution of the companies to cybersecurity product development.

Increasing Cyber Threats and Attacks: The evolving cyber threats ecosystem in Vietnam with deface attacks, phishing attacks and malware attacks at the centre of all of it, has been impacting the demand for cybersecurity solutions in the country. Banks, financial institutions, government entities and e-commerce companies are the most likely to be affected with malware and other threats.

Developing Device Ecosystem: Increasing mobile internet penetration and rising PC system penetration has made users in Vietnam more vulnerable to cyber attacks and threats. Installation of antivirus and firewall has thus become a common occurrence among computer systems in the country.

For More Information on the research report, refer to below link:
https://www.kenresearch.com/defense-and-security/security-devices/vietnam-cybersecurity-market-outlook-to-2025/419415-16.html

New Cybersecurity Technologies: Emerging technologies such as Artificial Intelligence, Internet of Things, Machine Learning, Big Data and Blockchain have enabled cybersecurity firms in the country and abroad to develop advanced products. These solutions are more efficient and leverage automation, data and analysis to detect and remediate cyber threats at a rapid pace.

Analysts at Ken Research in their latest publication “Vietnam Cybersecurity Market Outlook to 2025 By Solution Source (Foreign/Imported Solutions and Domestic Solutions), By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others), By Solution type (Standalone Products, Managed Security Services and Professional Services), By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM,  Security Gateways and Others), By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others), By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others)” observed that Vietnam is one of the major countries in the ASEAN ecosystem and the world to be affected with cyber threats. Increasing internet penetration of mobile devices and computer systems has been one of the major factors behind this. Government initiatives are focused in the right direction towards strengthening the local solution ecosystem and would strengthen market growth going forward. The Vietnam Cybersecurity Market registered a growth of 17.4% in terms of CAGR over the period 2014-2019.

Key Segments Covered:-

By Solution Source (Foreign/Imported Solutions and Domestic Solutions).

By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others).

By Solution type (Standalone Products, Managed Security Services and Professional Services).

By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM, Security Gateways and Others).

By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others).

By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others.

Companies Covered:-

Viettel Cyber Security

FPT Information System

CyStack

CMC Cybersecurity

Bkav

Fortinet

KasperSky

Juniper Networks

Cisco

Check Point

Trend Micro

Key Target Audience:-

Cybersecurity companies

Banks, Healthcare companies, Retail Companies, E-commerce Platforms, Government Departments

Government Associations

Industry Associations

Time Period Captured in the Report:-

Historical Period: 2014-2019

Forecast Period: 2020-2025

Key Topics Covered in the Report:-

End User Analysis

Governmental Role in Solving the Cybersecurity Problem

Operating Models for Information Security Companies

Vietnam’s standing in the ASEAN Cybersecurity Ecosystem

Vietnam’s Cybersecurity Product Ecosystem

Role of Cutting-Edge Technologies in Developing Cybersecurity Solutions

Tender Process for Partnering with a Cybersecurity Firm

Challenges Faced by Service Providers in the Industry

Mapping the Impact of the Pandemic on Cybersecurity in Vietnam

Interview with Chief Strategy Officer at Viettel Cyber Security

Opportunities in the Vietnam Cybersecurity Ecosystem

License Requirements for New Cybersecurity Businesses in Vietnam

Launching a Cybersecurity Solution in the Vietnam Market

Vietnam Managed Security Services Market

Vietnam Professional Services Market

Vietnam Antivirus Market Growth

Vietnam IPS/IPD Market Growth

Vietnam SIEM Market Analysis

Vietnam Firewall Market Shares

Vietnam Network Security Market

Vietnam Application Security Market

Vietnam Email Security Market

Vietnam Cloud Security Market

Vietnam Mobile Security Market

Vietnam Content Security Market

Vietnam Penetration Testing Market

Vietnam Security Audit Market

Vietnam Cybersecurity Consulting Market

Vietnam Security Training Market

ASEAN Cybersecurity Vietnam

Domestic Players Vietnam Cybersecurity Market

International Players Vietnam Cybersecurity Market

Related Reports:-

https://www.kenresearch.com/defense-and-security/security-devices/philippines-electronic-security-market-outlook/303062-16.html

Among the 5 ASEAN countries such as Indonesia, Malaysia, Philippines, Thailand, and Vietnam, the Philippines has the second-highest annual growth rate of around 6.5% in GDP from (2018-19). The economic expansion sets the stage for similar growth in the Philippines’ electronic security industry, which is at a relatively young stage compared to other mature Asian markets yet has a lot of room to grow. The electronic security market in the Philippines has grown tremendously over the last few years, on the grounds of an increasing number of criminal and terrorist activities that have stimulated the need for surveillance at public places, commercial buildings, banks, and financial institutions. The electronic security market in the Philippines has grown at a promising CAGR during the period 2014-2019.

https://www.kenresearch.com/defense-and-security/security-devices/europe-cyber-security-industry-outlook/241259-16.html

The cyber security market of Europe is presently in its growth stage. The market displays a strong competitive scenario where international players which hold majority of the stake are constantly trying to increase their existing market share in the industry. The entry of Domestic players and Start-ups in previous 5 years has lead to a shift in the import oriented market to rely heavily on the In-House products and services. The market is also very receptive to newness, innovations and next generation solutions. . Increased use of mobile phones and internet are the major growth drivers of this market. Network security is the most widely used technology in the market and holds a major share of market. Rising awareness amongst European Union and Government of different countries in EU along with SME’s and mid-caps has helped the industry to gain momentum. Majority of companies in Europe are SME’s which are going through digital transformation supported by funds from the EU. The cyber security market is growing parallel to digitization of companies in entire Europe.

https://www.kenresearch.com/defense-and-security/security-devices/middle-east-cyber-security-market/160752-16.html

Cyber security industry in Middle East registered a positive five year CAGR during 2012-2017. The market size grew constantly from 2012 to 2017. The growth was mainly driven by threat arising from increasing number of cyber attacks on critical infrastructure which were of national importance. Technological innovations and increasing focus on infrastructure development has also resulted in increase in demand for cyber security. The cyber crimes are one of the biggest concerns for the companies today. The number shows that the companies have to face a lot of loss which are in both tangible as well as intangible form.

More Cyber Security Market Research Reports:- https://www.kenresearch.com/productsearch.php?searchKey=Cyber+security

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.

This release was published on openPR.